Moody's may still cut AK Bars

Moody's Investors Service said it has maintained the review for a possible downgrade on the ratings of AK Bars Bank.

The review is expected to be concluded in December, after additional analysis of the recent capital increase, the agency added.

Moody's said it is also awaiting further clarifications on the level of AK Bars' credit risk exposure, noting that it placed AK Bars' Ba3 debt and deposit ratings, E+ bank financial strength rating and Aa3.ru national-scale rating on review for possible downgrade following a downgrade to those levels on July 28.

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